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Fed decision sparks $286 million crypto derivatives liquidation

Liquidations hit about 87,294 traders over 24 hours, with longs accounting for $186 million and shorts $100 million, despite bitcoin and ether ending little changed.

Reported · Written up by our desk · Market Structure

CoinDesk reports that crypto derivatives liquidations totaled about $286 million over 24 hours as bitcoin and ether saw sharp, back-and-forth moves around the Federal Reserve's rate decision. Bitcoin traded roughly flat near $63,900, while ether slipped modestly to around $1,900.

According to CoinGlass data cited by CoinDesk, roughly 87,294 traders were liquidated during the period. Long positions accounted for about $186 million of the cleared bets, while short positions accounted for about $100 million.

CoinDesk notes that losses were split across longs and shorts in major coins as price swings of less than 2% were enough to unwind leveraged futures. Bitcoin liquidations were about $57 million, while ether liquidations were about $58 million.

CoinDesk also highlights that equity perpetuals on crypto exchanges were hit, with liquidations tied to the AI chip trade and a sharp chip selloff. The largest single liquidation mentioned was a $2.9 million bitcoin position on Binance, while the biggest crypto liquidation totals centered on ether, tilted toward longs.

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